Iliad reaches 1 million subscribers in Italy, extends low-cost offer

MILAN, July 18 (Reuters) - French telecoms operator Iliad said on Wednesday that one million subscribers had already signed up for its low-cost offer in Italy, just 50 days after its launch.

The company added it would extend its 5.99 euro per month offer to the next 200,000 subscribers.

Earlier on Wednesday, Moody’s ratings agency said Iliad’s entry into the Italian mobile phone market would “aggravate competition and shrink mobile service revenues of the three resident mobile operators - Wind Tre, Telecom Italia, and Vodafone Group Plc - by an average 4 to 6 percent per year for the next two years”.